Supply chain management proved to be the strongest business sector for Damco in the third quarter with volumes up ten per cent. In contrast, ocean freight was down one per cent and air freight was down 15 per cent, the company said.
As a result, EBIT was down from $34m to $23m on flat sales of $836m. For the first nine months EBIT was down from $66m to $44m – again on sales that were broadly flat at $2.4bn.
Damco, which is part of AP Moller – Maersk, said it was continuing to invest in preparing the company for future growth, including accelerated roll out of a new air/ocean operating system and the strengthening of operational structures in many countries.
This accounted for the results being below the level of Q3 2012, it said.
“On the back of this ongoing transformation, we have identified the key opportunities for growth, and are now shifting our focus. Damco is more agile which allows us to adapt easily to changing customer needs and market circumstances, and to deliver robust and responsive products and services,” says chief executive officer Rolf Habben-Jansen.
Hanne B Sørensen is due to take up the role of chief executive in January. She is currently the CEO of Maersk Tankers. Rolf Habben-Jansen is leaving to take up a new position outside the Maersk Group.
